All Forum Posts by: Bjorik Mutize

@Mindy Jensen Happy Birthday BiggerPockets! You guys changed my life!

I spend more daydreaming energy figuring out where to move to after my name is published lol.

@Chris Bruneau what are you looking to do with the proceeds. I guess you are trying to avoid capital gains? Also holding a free cash flowing property isn’t too bad of an idea. What’s the condition of the property and the rental market surrounding it?

That seems high but from my standpoint its all from gut feeling. Could you follow up with this thread on your finds? It would be interesting to know price points being shot out there for that reason. I've never heard of a complexity fee so i'm curious to learn upon this.

@Tyler Warlow You are going to love yourself 5 years down the line starting at your age. Get to learning, get to building capital.

@Deangelo Mack I’ll assuming this is a multi-family property you are planning on living in. There is no time where you are required to find a tenant before you close. Usually after possession so you can begin showing the property. I hope I’m understanding the question correctly?

20-25% would be the down payment space i would expect.

Lenders generally position loans within 1-4 units then commercial beyond. At least in my state and market.

New location. Unfortunately wont let me edit the full post, however i will tag the new location here. Didn't want to lose all that have RSVP'd already! Hope to see you all soon! After this Tuesday, i will create another thread with a new reoccurring time frame/location.

Excelsior Brewing Company

421 3rd Street

Excelsior, MN 55331

@Meg K. You’re numbers are looking so profitable with it still being leveraged! This debt is being used to your advantage. Accelerate excess profIts towards the next deal! I don’t know what I would do for that low of interest rate.

Aside from the commonalities such as lead based paint, etc, you would want to get deeper into the covers of the state of the property’s skeleton and mechanics through a thorough inspection. Definately avoid waiving this. Probably budget higher % for higher maintenance and definitely cap ex. Expect a possibility of deferred maintenence. I invest with an area where homes built in the 1800’s are common.